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- Another step reached in meeting NZ energy needs
- Agreement for sale and removal of CCR Platform
- Will receive US$5.95 million for sale of CCR
- Fertiliser capacity added to bioenergy plans
Channel Infrastructure NZ (ASX:CHI) has hit another milestone in the redevelopment of Marsden Point Energy Precinct with the signing of an agreement with Integrate Scope DMCC for the sale and removal of the fully decommissioned CCR Platformer unit.
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The redevelopment of the MPEP is a key component of New Zealand’s plans to overcome its current energy crisis, and the latest move will enable works to make way for the construction of the proposed Marsden Point Biorefinery.
Channel, New Zealand’s largest fuel import terminal business, will receive net proceeds of US$5.95 million from the sale of the CCR.
A consortium led by Seadra Energy is developing the Marsden Point Biorefinery project, which includes Qantas, Renova, Kent, ANZ NZ and, more recently, Air New Zealand. The consortium has confirmed Marsden Point’s scope has expanded to include the manufacture of fertilisers from byproducts of the biorefining process.
As part of the expanding scope, Ballance Agri-Nutrients has allied with the Seadra consortium that would enable the production and offtake of fertilisers.
Channel Infrastructure CE, Rob Buchanan, said with this expansion, the proposed biorefinery will produce biodiesel, Sustainable Aviation Fuel (SAF) and urea and other fertilisers, all of which would be manufactured from biogenic feedstock sources.
“The plant’s manufacturing capacity of drop-in fuel products from domestic feedstocks will strengthen New Zealand’s resilience to global supply chain disruptions and strengthen its fuel and economic security by making up to 400 million litres per year of low-carbon renewable fuels, which could be available for the domestic market during periods of fuel supply chain disruption.
“The broader scope of the Marsden Point Biorefinery represents continued positive momentum for this project. Making way for this project on our site is an important step, and it’s great that we have been able to identify a potential way of reusing and realising value from these decommissioned assets as well.
“The manufacture at Marsden Point of drop-in fuel products and fertiliser using domestic feedstock will strengthen New Zealand’s resilience to global supply chain disruptions. This project would be transformational for Northland, creating hundreds of jobs and increasing New Zealand’s economic and fuel security.”
CHI will open at $2.63 this morning.
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